The Takung Art Co. Ltd. (TKAT stock) shares had surged in the premarket trading session in which the percentage boosted by 7.58% to trade at an increased price of $8.09 at last check. The previous session of the TKAT stock had closed gaining 8.67% at $7.52. The stock volume for an average daily within the past 50 days has been 1.94 million shares while today’s trade remained 33.64 million shares, which is higher. In the past year up to date, TKAT shares had surged up by 557.57% and in the past week, the stocks had dropped down by -36.59%. In the past three and six months, the TKAT stock had shed -65.94% and added 246.54% respectively. Furthermore, Takung Art Co. is currently valued in the market at $102.05 million and has 11.27 million outstanding shares.
What you need to know about Takung Art Co. Ltd.
Takung Art Co. Ltd. is an internet retail company that focuses on the buying and selling of art products online. The TKAT stock has an operational platform which is specifically an electronic online platform for artists, art investors, and dealers. Talung also trades in valuable pieces of artwork. The target market for the consumers and operations is in the People’s Republic of China. The name of the platform is www.takungae.com. This website consists of online listing and services of trade for all sorts of art and aesthetic consumers where they get access to art trading market. This allows for them to interact with investors that can invest in their art assets. These art assets include calligraphy, paintings, crafts, jade, jewelry, ceramics, metalware, antique furniture, and sculptures. The company has a client base consisting of original owners, agents, and traders. TKAT stock was founded in 2012 and is based in TsimShaTsui, Hong Kong.
Takung has announced the closing of a $5.0 million private placement
Takung Art Co. Ltd. has recently announced that it has closed up a private placement of the common stock that totals to a share number of 571,429. The purchase price listed for this TKAT common stock is $8.75 per share. The company has estimated the gross proceeds from this closing to be $5 million prior to excluding placement agent fees and expenses related to the offering. The general purposes for the use of these net proceeds from the offering are intended for corporate purposes and practices, and working capital expenditure. The sole manager for this placement is Maxim Group LLC.
This $5.0 million private placement made by the operators of three online fine arts and collectibles platform was initiated on 8th of July and were conditioned to a securities purchase agreement (SPA) under the satisfaction of which, it will be closed.
